Think Your Money is Safe in an Insured Bank Account? Think Again. Posted on July 5, 2013 by Ellen Brown A trend to shift responsibility for bank losses onto blameless depositors lets banks gamble away your money. When Dutch Finance Minister Jeroen Dijsselbloem told reporters on March 13, 2013, that the Cyprus deposit confiscation scheme …
Bail-out Is Out, Bail-in Is In: Time for Some Publicly-Owned Banks
“[W]ith Cyprus . . . the game itself changed. By raiding the depositors’ accounts, a major central bank has gone where they would not previously have dared. The Rubicon has been crossed.” —Eric Sprott, Shree Kargutkar, “Caveat Depositor” The crossing of the Rubicon into the confiscation of depositor funds was …
Winner Takes All: The Super-priority Status of Derivatives
Posted on April 9, 2013 by Ellen Brown Cyprus-style confiscation of depositor funds has been called the “new normal.” Bail-in policies are appearing in multiple countries directing failing TBTF banks to convert the funds of “unsecured creditors” into capital; and those creditors, it turns out, include ordinary depositors. Even “secured” creditors, including …
A Safe and a Shotgun or Publicly-owned Banks? The Battle of Cyprus
A Safe and a Shotgun or Publicly-owned Banks? The Battle of Cyprus Posted on March 21, 2013 by Ellen Brown If these worries become really serious, . . . [s]mall savers will take their money out of banks and resort to household safes and a shotgun. – Martin Hutchinson on the attempted EU raid on …